V1.cn

What V1.cn does

V1.cn (第一视频集团 / First Video Group) is a Beijing-headquartered, holding-company-structured new media conglomerate founded in 2005 by Zhang Lijun. It operates five business pillars: (1) the V1 short-video aggregation app, positioned as a Chinese "Toutiao-for-video" covering approximately 30 content categories with AI-driven personalized recommendation, VR live-streaming, live e-commerce, and knowledge-payment features; (2) Crazy Sports (疯狂体育, 00082.HK) — a sports gaming and lottery information services subsidiary that became the main listed entity after the 2020–2021 restructuring, holds the official Chinese Super League game licensing rights for 2017–2022, self-develops sports game IP, and runs a 1,000+ terminal "sports lottery new retail" offline network; (3) China-Arab TV (中阿卫视) — a Dubai-headquartered satellite channel covering 22 Arab countries and approximately 500 million population under a Belt-and-Road cultural-exchange mission; (4) V1+SPACE — a 2,000 sqm source-innovation incubator in Beijing's publishing creative industry base that combines a game-version approval green channel, partnership with the Capital Copyright Association, and a blockchain-based digital copyright trading platform; and (5) adjacent operations including 邻讯 (neighborhood social), the First Video International Cultural Tourism Group, and a 2023 digital agriculture joint venture with the Chinese Academy of Agricultural Sciences.

Technically, the stack rests on the group's science & technology research institute, which explores internet, cloud computing, big data, blockchain, AI, and quantum computing, and an AI-driven personalized recommendation engine powering the V1 app. The business model is multi-stream: advertising and content distribution via China-Arab TV; sports IP licensing (including B2B licensing of CBA rights to global gaming partners); sports lottery information services combining online distribution, knowledge payment, and offline terminals; subscription/recurring and live-commerce revenue from the V1 short-video app; and professional services from the incubator. The enterprise holds a notably broad license stack in China (Internet News Information Service Permit, Information Network Audio-Visual Program Transmission License, Radio/TV Program Production License, Online Publishing, ICP, Value-added Telecom, Online Culture Business, and Surveying & Mapping Qualification Certificate).

Corporate history is marked by first-mover listings: HKEX Main Board listing in July 2006 as China's first listed online video company; NASDAQ introduction listing of subsidiary China Mobile Gaming in September 2012 as China's first overseas-listed mobile gaming company, followed by an 85-day-record privatization in August 2015; controlling-stake acquisition of China-Arab TV in August 2016; acquisition of Crazy Sports in 2018; restructuring of the listed entity in December 2020 with Crazy Sports becoming the main business; renaming to Crazy Sports Group in June 2021; and the digital agriculture JV in 2023.

Name

V1.cn

Legal name

第一视频公司

Website

https://v1.cn

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

V1.cn (第一视频集团) is a Beijing-based new media holding company founded in 2005 that operates the V1 short-video aggregation app, the Crazy Sports (00082.HK) sports gaming and lottery subsidiary, and the Dubai-based China-Arab TV satellite channel covering 22 MENA countries, alongside a cultural-industry incubator and a digital agriculture joint venture.

Ownership category

akta.pro rank

Product category

Digital Media / New Media

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (5162), Broadcasting and Content Providers (516), Motion Picture and Video Production (512110)

SIC

Television Broadcasting Stations (4833), Cable & Other Pay Television Services (4841), Services-Motion Picture & Video Tape Production (7812)

akta.pro primary industry

Partner Integrations & Distribution (App Stores, Channels, OEM/Carrier Bundles) (MPAHAJAO)

akta.pro secondary industries

Content Supply Chain Orchestration & Workflow (Ingest-to-Publish, Automation) (MPAHALAG), Blockchain/Traceability for Content Supply Chain (Provenance, Audit Trails) (MPAHAMAM)

Keywords

• Short video platform
• Sports lottery information
• Satellite television broadcasting
• Digital copyright trading
• Startup incubation services

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. 体育游戏发行与IP授权: 疯狂体育开发并经营体育游戏、彩票信息服务、体育互动直播等体育娱乐互动业务。拥有中超联赛官方游戏高级合作伙伴授权(2017-2022)，在全球范围内研发游戏，发行了"实况中超"、"绿茵王朝"、"梦幻足球世界"、"中超棋牌"、"球场风云"等多款体育游戏
2. 体育彩票信息服务: 疯狂体育提供体育彩票信息服务，结合线上信息发布、知识付费和线下零售终端，建立全新体育彩票娱乐平台
3. 短视频平台流量运营: 第一视频APP作为中国首家短视频聚合平台，通过"精域流量"模式(新闻内容+电商)运营，聚合近30类短视频内容，连接内容创作者与品牌方
4. 卫视媒体广告与内容分发: 中阿卫视信号覆盖西亚北非22个阿拉伯国家和地区近5亿人口，采用"网台联动"、"星网结合"方式运营，提供广告和内容分发服务
5. 孵化器与投资服务: V1+SPACE源创新孵化器为创业团队及中小型企业提供办公空间和赋能服务，已孵化疯狂体育、中手游、医护到家等企业，其中多家已成功上市

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

First Video Group (V1.cn / 第一视频) operates as a comprehensive new media enterprise that produces and aggregates short video content through its consumer-facing First Video APP, broadcasts China-Arab cultural content via its satellite TV station in Dubai, develops and licenses sports games and lottery information services through its Crazy Sports subsidiary, and incubates cultural-industry startups at its V1+SPACE facility. Revenue is generated through advertising on satellite TV, sports game IP licensing (including Chinese Super League rights 2017-2022), subscription and precision-traffic operations on the short video platform, and offline sports lottery retail integration.

Product overview

First Video Group operates as a comprehensive new media industry conglomerate with multiple interconnected products and platforms. The core offering is the 第一视频APP, China's first short video aggregation platform launched in 2016, which serves as the primary consumer-facing product. This is complemented by 中阿卫视, a satellite TV station covering Arab regions for cultural exchange, and 疯狂体育, a sports entertainment platform that became the Hong Kong-listed主营业务 (main business) after restructuring in 2020. The group also operates V1+SPACE, a cultural industry incubator focused on copyright and gaming startups, and 邻讯, a neighborhood social networking product. The portfolio represents an integrated ecosystem spanning short video, international media, sports entertainment, startup incubation, and local social services.

Differentiator

Problem solved

Functional benefit

Brands

• 疯狂体育: 体育互动娱乐平台，开发经营体育游戏、彩票信息服务、体育互动直播等业务
• 中阿卫视
• V1+SPACE

Products and services

• First Video APP (第一视频APP) China's first short video aggregation platform, functioning as a video version of Toutiao. Aggregates nearly 30 categories of short video content (news, entertainment, comedy, food, travel, fitness, parenting, sports, etc.) using AI-driven personalized recommendation. Supports VR panoramic live streaming, live e-commerce, and knowledge payment under the 'precision traffic' operating model.
• China Arab TV (中阿卫视) Satellite TV station headquartered in Dubai, UAE; the only Sino-foreign joint-venture satellite TV station on the traditional Silk Road. Signal covers 22 Arab countries in West Asia and North Africa with a combined population of nearly 500 million. Operates an 'internet + satellite TV' integrated media strategy focused on China-Arab cultural exchange under the Belt and Road Initiative.
• Crazy Sports (疯狂体育) Wholly-owned subsidiary and main listed business of the group (00082.HK), focused on developing and operating sports games (proprietary titles include 梦幻足球世界, 实况中超, 绿茵王朝, 中超棋牌, 球场风云), sports lottery information services, and sports interactive live streaming. Holds exclusive Chinese Super League senior partnership rights (2017-2022) and operates a 'sports lottery new-retail strategy' integrating online information distribution with offline retail terminals.
• V1+SPACE Source Innovation Incubator (V1+SPACE源创新孵化器)

Quantifiable outcome

• 疯狂体育体彩新零售战略推行仅三个月即见成效，线上线下资源整合加速
• +2 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• 第一视频国际文旅集团coreStrategic or Co-development Partner · 1 January 20212021年第一视频集团与迪拜中阿卫视共同出资成立第一视频国际文旅集团，定位为互联网定制化高端生活方式运营商，业务涵盖国际文旅、网络版权、创新企业孵化器三大板块，运营搜哩搜哩、首版交易等品牌。
• 迪拜中阿卫视coreStrategic or Co-development Partner · 22 August 20162016年8月22日，第一视频集团战略控股迪拜中阿卫视，开启"互联网+卫视"的媒体融合战略。中阿卫视(China Arab TV)总部位于阿联酋迪拜，是传统丝绸之路上唯一中外合资的卫星电视台，信号覆盖西亚北非22个阿拉伯国家和地区近5亿人口。
• 首都版权协会minorStrategic or Co-development Partner2022年7月，第一视频国际文旅集团与首都版权协会共同打造首都数字版权交易中心和首都数字艺术版权交易平台，在V1+SPACE共享空间挂牌上线，通过区块链技术为创作者及用户提供创作、确权、发行、流转的一站式服务。
• 中国农科院minorStrategic or Co-development Partner2023年第一视频集团出资成立第一视频数字农业科技发展有限公司，通过与中国农科院深度合作，聚焦数字技术助力农产品加工业、乡村休闲旅游、农村电商升级和推陈出新，支持创建三大产业聚集类项目。
• 中国国际贸促会广州市开发区/黄埔区minorStrategic or Co-development Partner景和医健集团受邀参加广州细胞与基因创新大会并与中国国际贸促会广州市开发区、黄埔区签订合作意向书，在健康医疗创新领域开展合作。

Scale indicators9 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• iQIYI: Major Chinese online video platform with a licensed-content-led streaming model. Comparable to V1.cn in the licensed online video / AVOD-SVOD hybrid category.
• Bilibili: Chinese video aggregation and streaming platform serving multiple content categories with a strong community and creator layer. Highly comparable to V1.cn's short-video aggregation APP model.
• Phoenix New Media (ifeng.com): Chinese online news and video platform with mobile-first aggregation. Closely comparable to V1.cn's internet news and short-video aggregation positioning.
• 500.com: China-facing sports lottery and online gaming operator. Direct peer to Crazy Sports' sports lottery information services and sports interactive live-streaming.
• Kuaishou Technology: Leading Chinese short-video aggregation and live-streaming platform. Direct competitor to 第一视频APP for creator attention, advertising, and live e-commerce.
• Youku Tudou (Alibaba): Chinese online video and streaming platform owned by Alibaba. Competes with V1.cn for licensed content rights, ad budgets, and short-video/UGC viewership.

Broad incumbents

• Tencent Holdings: Dominant Chinese internet platform with extensive gaming, video, news, and social assets. Competes with V1.cn across virtually every vertical (video, gaming, sports content, advertising).
• Sohu.com (Sohu Video): Chinese internet portal with video and news verticals. Comparable incumbent competing for the same licensed content, news aggregation, and ad inventory as V1.cn.
• NetEase: Diversified Chinese internet company with large mobile gaming, content, and media businesses. Directly comparable to Crazy Sports' mobile gaming portfolio and to V1's content operations.

Emerging players

• Mango Excellent Media: Chinese licensed video streaming and content production platform with state-broadcaster backing. Comparable in the licensed content / short-video aggregation space, with a regional content edge.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vodone-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about V1.cn